Frank Cushnahan1.jpg

Former Nama adviser Frank Cushnahan

Five months after Independent TD Mick Wallace first raised concerns about the sale of Nama’s northern Ireland portfolio in the Dáil…

BBC reports:

“The National Asset Management Agency (Nama) has written to a former adviser asking him why he did not disclose potential conflicts of interest.

“Frank Cushnahan sat on Nama’s Northern Ireland advisory committee from 2010 until November 2013.”

“A Stormont inquiry heard he met the Pimco investment fund in May 2013 to discuss Nama’s Northern Ireland loans.”

“Nama has asked him to comment on how he determined he was not required to tell them about that meeting.”

It has also asked him to provide details of any other meetings with Pimco or “other parties” in relation to the possible sale of the Northern Ireland loans portfolio.

“Mr Cushnahan went on to advise Pimco after he left his Nama role and was in line to receive a £5m fee if its bid for the portfolio was successful, an Irish parliamentary committee was told.”

“… Nama has also asked Mr Cushnahan why he did not disclose his shareholding in the Graham property group, which was a Nama debtor.”

“…Mr Cushnahan has always denied any wrongdoing in relation to his Nama role.”

Meanwhile…


Nama deal: Frank Cushnahan asked to explain non-disclosure of potential conflicts of interest (BBC)

Cushnahan may face State ethics watchdog over Project Eagle deal (Irish Times)

Previously: ‘Nama’s Answer To My Question Is Not True’

The Eagle Has Landed

“What Did They Get The €5million For?”

Project Eagle And The €3.5 Billion Haircut

Pic: Irish News

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28 thoughts on “Cushy Number

  1. Disasata

    And any hint of messing with the figures by John McEveryman and they’re bent over by all and sundry.

    1. Fergus the magic postman

      Yep. He’s a thorn in the side of these guys & the government in general. That’s why they want him locked up for Christmas.

      1. Neilo

        I certainly don’t agree with Mick being locked up, or indeed, 99% of what he says. Pardon the phrase, please, but his NAMA stuff is light drizzle of piss upon the chips of cosy consensus and I kinda dig it.

    2. Andyourpointiswhatexactly?

      Yup. Great work. He annoys the crap out of me though. His tweet just after the Paris massacre blaming French air strikes was crass.

      1. Fergus the magic postman

        That was a badly timed tweet for sure. The contents of it however, cannot be argued with IMO.

  2. Kolmo

    Well done Mr. Wallace T.D. and BS, this would never see the light of day if it were left in the hands of the others well-placed individuals.

    These well-spoken gangsters are stealing the taxes we pay as dutiful and responsible citizens, the greasy fat-fingered bastards.

  3. Just sayin'

    Mick Wallace is hilarious – just asks questions all the time, as if he’s exposing great corruption. The fact he has no evidence of anything doesn’t seem to matter as long as he’s asking searching questions.
    Plenty of questions can be asked of Wallace himself. He’s got some neck to be sitting in the Dáil. Its just too much to take that people look at a tainted property developer as some sort of crusader against corruption.

    1. Kolmo

      Weak. Just weak. The scale of what is being exposed is monumental as opposed to whatever issues there have been with Wallace in the past. Why would he expose himself to liable (at best) or based on the sums of money involved, possible personal danger if he didn’t have the evidence to back it up.

    2. Clampers Outside!

      The fact he has no evidence…. that you know of.

      Did he not istigate an investigation;
      Isn’t he assisting the Gardaí; isn’t he told he cannot jeopardise any investigation by saying too much or revealing something incorrectly;
      what questions has Mick left to answer… if it’s his tax and his staff pension scheme, they’ve been answered, please advise what else he needs to answer?

    3. Anne

      “as if he’s exposing great corruption”.. as if? hmmm
      It certainly looks that way going from the above from the BBC anyway.

      I’d say Mick’s questioning isn’t too far off the mark at all.

    4. Fergus the magic postman

      Looks to me like, in this case anyway, that he has in fact exposed great corruption. Unsurprising great corruption at that.
      There aren’t too many in The Dáil who rattle cages of the big boys & girls when it comes to corruption. Of course some (including yourself ?) would rather they just stayed quite and let things go on as they are.

      1. manolo

        When the message is well founded, the incumbents resort to undermining the one who carries the message.

    5. ollie

      Just sayin’, you truly are a blueshirt lackey.

      Although it looks like NAMA are also guilty of making accusations without proof:
      “The National Asset Management Agency (Nama) has written to a former adviser asking him why he did not disclose potential conflicts of interest”
      or does this go some way to proving that Wallace is correct?

  4. Lordblessusandsaveus

    NAMA should do a check of all their employees to see if any of them are married to people whose families are in debt to NAMA. They should really do that. Especially people doing jobs which appear to have nothing to do with their prior career paths.

    Are people being placed into positions purely to gather inside information and pass it on?

  5. Toni The Exotic Dancer

    NAMA. The whole thing stinks. Created to keep property prices artificially high. Keeps property out of the reach of first time buyers. Rewards bankers. And lots of insider deals cloaked behind a veil of corporate confidentiality. You couldn’t make this up. We need to be governed by the Troika.

    1. Kieran NYC

      Created to limit losses to the taxpayer from the bank bailout, you numpty.

      Governed by the Troika who made the government bring in Irish Water, you mean?

    1. Neilo

      Well, I suppose he’s keeping the law courts going *pauses only to remove jackboot from forehead of barrister in Jacuzzi*

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